Kurita Water Annual Profit Falls 31% as Customer Spending Slows

April 30 (Bloomberg) -- Kurita Water Industries Ltd., a
Japanese water system provider, said full-year profit fell 31
percent to the lowest in seven years after customers in Japan
curtailed investments and a slowdown in the global economy.

Net income dropped to 11.5 billion yen ($117.6 million) in
the 12 months ended March 31 from 16.5 billion yen a year
earlier, the Tokyo-based company said today in a statement to
the Tokyo Stock Exchange. Sales slid 7 percent to 180.1 billion
yen from 193.8 billion yen.

Growth this fiscal year will be supported by demand for
water treatment in emerging Asian economies, according to the
statement. Full-year profit will increase 22 percent to 14
billion yen and sales are expected to rise 6 percent to 191
billion yen, the company forecast.

Kurita, which manufacturers and sells water treatment
equipment and products including soil remediation systems, fell
0.2 percent to 1,999 yen in Tokyo trading before the result and
the outlook were released.

The shares have gained 5.7 percent since Jan. 1, compared
with a 33 percent advance for the Nikkei 225 average.